R.I.P Credits

[popsicle_3000]

Originally Posted by foxfire667

It's actually fairly easy to gain credits through the gambling hall if you don't constantly accept and make gigantic wagers without probability on your side first.

um... what??

[SK8R43]

Actually, foxfire is right Pop lol

[Spoiled_Milk]

I usually make/accept low bids and if I seem like I'm winning more than I'm losing then I'll go for higher bids..Seems to work out to my advantage sometimes. Or my head's fucking with me.

[lumphoboextreme]

lol it's literally like playing slots. eventually the house (FFR) will have all the credits.

[Evnoir]

Originally Posted by Spoiled_Milk

I usually make/accept low bids and if I seem like I'm winning more than I'm losing then I'll go for higher bids..Seems to work out to my advantage sometimes. Or my head's fucking with me.

I tend to go for the opposite and it works for me.
To each their own, I guess?

[popsicle_3000]

Originally Posted by SK8R43

Actually, foxfire is right Pop lol

if there is 50% probability of winning, then doesn't matter. cuz each and every time you play you have the exact same odds of winning.

so what am i missing?

[Charu]

The chances of you losing more than 6 or so times is a lot less than just doing a 50/50 once.

Essentially, it's the same 50% chance, but due to probability, the likely hood of you losing consecutively is lowered each time you do lose.

[LongGone]

Its all about how much you gamble relative to how much you own. If you keep gambling in the long run you will theoretically break even since its 50%. However, we don't have infinite credits to work with. Some moves like betting 100k when you only have 300k to begin with doesn't give you enough room to recover should you lose the bet. If you lose that huge % of your existing credits, you lose power in the amount you can make in a single bet now

[qqwref]

Originally Posted by KrazyKitsune

[size=1]500,000 1 minutes ago Lost
250,000 2 minutes ago Lost
100,000 3 minutes ago Lost
50,000 9 minutes ago Lost
25,000 10 minutes ago Lost
10,000 10 minutes ago Lost
5,000 10 minutes ago Lost
1,000 11 minutes ago Lost
500 11 minutes ago Lost
100 11 minutes ago Lost
10 11 minutes ago Lost

Hahaha. That does happen sometimes, yes. I told Halogen the dangers of Martingale

Originally Posted by lumphoboextreme

lol it's literally like playing slots. eventually the house (FFR) will have all the credits.

Yeah, pretty much. I hear they've already taken more than 30 million out of the credit pool, although I'm sure some of that was from the millions of "fake" credits that got removed later.

Originally Posted by Charu

Essentially, it's the same 50% chance, but due to probability, the likely hood of you losing consecutively is lowered each time you do lose.

Nope, it doesn't work that way.

Originally Posted by LongGone

If you keep gambling in the long run you will theoretically break even since its 50%.

Actually, you will lose money, since FFR takes 5% of your win. For each 10k bet (for instance) you can expect to lose about 250 creds every time. Bet more and that number increases proportionally.

[Evnoir]

I'm assuming the gambling hall doesn't take into consideration previous bets. It's 50/50 every time you take/place a bet(?)
It's probably the reason why not everybody has a 50:50 win to loss ratio.

[SK8R43]

Originally Posted by Evnoir

I'm assuming the gambling hall doesn't take into consideration previous bets. It's 50/50 every time you take/place a bet(?)
It's probably the reason why not everybody has a 50:50 win to loss ratio.

It most likely doesnt, BUT if you just go up one by one you will ALMOST always make credits rather than just skipping around randomly, which is really risky. There is however the chance of you losing all 12 in a row but its kinda low lol

[LongGone]

Originally Posted by qqwref

Actually, you will lose money, since FFR takes 5% of your win. For each 10k bet (for instance) you can expect to lose about 250 creds every time. Bet more and that number increases proportionally.

Oh forgot about that, thanks

In general yea its a losing game rofl. In the system as a whole you'd have a few statistical anomalies benefiting from the lucky win streaks, the rest will lose

Essentially, it's the same 50% chance, but due to probability, the likely hood of you losing consecutively is lowered each time you do lose.

More like, if it already happened, it will not affect your next result. If I already lost 3 times in a row, my next is still 50:50

However, if it hasn't happened, then yes looking at the potential consecutive bets you are gonna make the probability of losing 4 times in a row is about 6%

[SK8R43]

Originally Posted by popsicle_3000

if there is 50% probability of winning, then doesn't matter. cuz each and every time you play you have the exact same odds of winning.

so what am i missing?

Think of it like this, when you flip a coin its 50/50 odds as well. If you flip it once and get heads, on your next flip you still have a 50/50 probability to get tails. Most likely youre not going to get either heads or tails 12 times in a row, therefore the probability of winning if you start at 10 and just work your way up one by one increases after each loss due to this factor. Its possible to lose all 12 in a row, but it wont happen alot.

[qqwref]

Originally Posted by SK8R43

Think of it like this, when you flip a coin its 50/50 odds as well. But if you flip it once and get heads on your next flip you still have a 50/50 probability to get tails.

Fixed.

If it isn't clear: EVERY bet has a 50% chance of losing. It doesn't matter if you are on a winning streak of 10 bets or a losing streak of 11.

[Evnoir]

Originally Posted by qqwref

Fixed.

If it isn't clear: EVERY bet has a 50% chance of losing. It doesn't matter if you are on a winning streak of 10 bets or a losing streak of 11.

^ This. Otherwise you wouldn't have that many people with 10+ losing streaks.

[bballa48]

Currently on a 10 game win streak. Woot.

Despite knowing my probability of winning is still the same, I just KNOW I am losing the next.

[SK8R43]

lol whatever everyone makes mistakes :P Fixed it anyways -_- Thanks!